Blackstone Buys Goldman’s Student Dorm Business in $6 Billion Deal

The transcript discusses the dynamics of the private equity industry, focusing on Goldman Sachs and Blackstone's roles. It highlights Goldman's merchant banking division and its advisory role in transactions. The venture's valuation and exit strategy are explored, emphasizing the importance of private equity as a fee pool for the industry, with major banks like Bank of America and City involved.

What role do Bank of America and City play in the context of the private equity industry as mentioned in the text?

What does the text imply about the competition within the private equity industry?